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Bond issuance will further bolster APICORP’s (www.APICORP.org) capital and liquidity positions to continue executing its mandate for the sustainable development of the Arab energy sector; Bond issuance achieved APICORP’s lowest ever spread and yield at +69 basis points and 1.26%, respectively; Bond issuance was more than 2.5 times oversubscribed and attracted more than $2 billion in orders from over 65 investors worldwide, reflecting strong investor trust amid uncertain times.
The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, today announced the successful issuance of a benchmark $750 million dollar-denominated five-year bond aimed at further bolstering the Corporation’s business operations and capital and liquidity positions.
The race for hydrogen is accelerating the penetration of low-cost renewable energy sources; Role of private sector financing still hinges on sector reforms and government guarantees; Renewables and nuclear technologies claimed higher share in power supply mix due to the COVID-19 pandemic; Committed investments in MENA power sector hold relatively steady while planned investments decline by USD 114 billion compared to last year’s outlook due to commissioning of several projects in 2019; Future demand and investments in the power sector will be largely determined by the power market structure, policy efficiency and sector digitalization; Ensuring energy security through regional electricity integration regains importance.